Reserve Bank of India or RBI assigned BP Kanungo to run the monetary policy portfolio. The monetary policy department, including forecasting and modelling unit, was earlier looked after by Acharya, who ended his stint as the deputy governor after last month's surprise resignation where the ...

The Reserve Bank of India (RBI) has penalised State Bank of India and Union Bank of India for violating certain regulatory guidelines. The penalty has been imposed on the bank for non-compliance of income recognition and asset classification (IRAC) norms, code of conduct for opening and operating ...

An internal committee of the Reserve Bank of India, which was set up to review timings of different financial markets, suggested that the foreign exchange market could function from 9 am to 9 pm At present, the currency market works from 9 am to 5 pm. It change the timing of the functioning of the ...

The Reserve Bank of India (RBI) board finalised a three- year roadmap to improve regulation and supervision, among other functions of the central bank. This medium term strategy name is Utkarsh 2022 which is in line with the global central banks’ plan to strengthen the regulatory and ...

Reserve Bank of India has set up a six-member working group to review the regulatory and supervisory framework for Core Investment Companies (CICs). The panel will be headed by Tapan Ray, Non-Executive Chairman, CBI. The move comes as the corporate group structures becomes more complex and ...

The Reserve Bank of India (RBI) has imposed penalties ranging between Rs 25-50 lakhs on four state-run lenders for violating Know Your Customer (KYC) norms and anti-money laundering standards. Punjab National Bank, Allahabad Bank, and UCO Bank were fined Rs 50 lakh each while Corporation Bank ...

Reserve Bank of India (RBI) deputy governor Viral Acharya, the lone man or the last man in RBI, who often batted for central bank's independence from both inside and outside quarters has reportedly called it a day. This is the second top level exit after the governor Urjit Patel, also an ...

RBI Deputy Governor Viral Acharya, who was in-charge of the monetary policy department, has resigned six months before the scheduled end of his term, the Reserve Bank of India (RBI) confirmed on Monday. Acharya submitted a letter a few weeks ago saying he was unable to continue his term beyond ...

RBI expert committee on Micro, Small and Medium Enterprises (MSMEs) headed by the former Securities and Exchange Board of India (SEBI) Chairman U K Sinha, has recommended doubling the capital on collateral-free loans from the current Rs 10 lakh to Rs 20 lakh, for borrowers falling under the Micro ...